BERLIN - EUROPEAN G20 leaders agreed that the International Monetary Fund should have at least US$500 billion (S$765 billion) to prevent future financial crises, British Prime Minister Gordon Brown said on Sunday.
LONDON - TWO British banks, Royal Bank of Scotland and Lloyds, are close to reaching an agreement under which the state would insure nearly 500 billion pounds (S$1.1 trillion) worth of assets, the Sunday Telegraph reported.
GENEVA - BANKING secrecy needs to be redefined, but abolishing it abruptly is not in Europe's interest, Luxembourg's deputy prime minister said Sunday, amid renewed debate over the concept sparked by a US tax probe of Swiss banking giant UBS.
BERLIN - THE heads of Europe's largest economies agreed here on Sunday on the need for greater regulation of finanical markets and of products such as hedge funds, a German government source said.
The leaders of Britain, France, Germany, Italy, Spain and the Netherlands were meeting in Berlin to hammer out a joint European position for the Group of 20 meeting in London on April 2.
